- Round also saw participation from Java Capital & SF based angels
- Funds raised will be used for building the product and expanding the GTM & Engineering team
- Aims to expand in primary geographic markets of North America, India & EU
- AuditCue is a SaaS product that reimagines how risks, controls & audits work together. It removes friction from audits and empowers auditors & auditees through the entire lifecycle of risk & audit programs
Chennai-based AuditCue, an audit & risk SaaS startup, has raised $1.5 Mn in a seed funding round led by Kalaari Capital. Other investors who participated include Java Capital and angel investors from San Francisco. The capital infusion will be allocated towards product development, accelerating the go-to-market strategy, and growing the engineering team
Founded in 2022 by Gaurav Kulkarni and Naren Janakiraman, AuditCue calibrates, guides and streamlines all actions that are a part of an audit lifecycle. AuditCue transforms the risk & audit experience for auditors & auditees both. The startup elevates customers’ audit & risk programs, speeds up audit cycles and improves process resiliency without compromising on agility. The elegant, simple & intuitive UX paired with its flexible and modular platform is what sets AuditCue apart from legacy solutions and market incumbents.
Gaurav Kulkarni, Co-founder & CEO, Auditcue says, “AuditCue is built for CISOs in regulated markets who keep pace with multiple compliance regimes. Unlike legacy solutions or automation products, AuditCue removes friction from audits and empowers auditors & auditees through the entire lifecycle of risk & audit programs. We are transforming the risk & audit experience for our customers to make audits seamless. With this funding round, we aim to expand further into our primary geographic markets of North America, India & EU.”
Vani Kola, Founder & Managing Director, Kalaari Capital, says “The $120B global audit and GRC market is ripe for disruption with new-age tools. The founding team brings complementary skills and we are excited to back their vision.”
AuditCue has been in stealth mode until now, working with industry experts & advisors to reimagine how risks, audits & controls work together. With this round, the company is gearing up to open up access to their solution for companies that are looking for a better way to manage risks & compliance.
Companies understand the importance of a risk & audit program but most still struggle to find the right solution to implement. Legacy solutions add more complexity to processes instead of simplifying them for companies, whereas other incumbents try a one-size-fits-all approach. But companies need a tailored approach to risk and a solution flexible enough to address their unique challenges and needs, and that’s what AuditCue is building.
